With updates on the state of inflation in the nation coming at rapid-fire, it can be overwhelming to understand how to manage your money — and how to manage it well.
While having a solid amount in your savings as a safety net is smart, investing is a way to grow your income. But, the golden question: how do I trade and exchange cryptocurrency?
If you’re a beginner, don’t sweat. Phemex, the fastest crypto exchange and trading platform, is a no-stress way to understand the ins and outs of investing efficiently.
Launched in 2019, the platform is led by former Morgan Stanley executives and serves 2 million active users in more than 200 countries (how’s that for impressive!) Additionally, for its crypto-derivatives products, Phemex allows you to trade with up to 100 times leverage.
What does this mean? In the investing world, leverage is when one uses borrowed funds to increase their trading position beyond what you can optimize from your cash balance alone. That’s pretty impressive, and Phemex helps pave the way.
What’s more, Phemex’s mission is centered on innovation. According to the brand, it believes in “people coming together in the collective virtual space where the real-time platform is interactive, interoperable and inviting everyone on the web.” Fittingly, Phemex wants to be at the forefront of the metaverse as digital trading evolves and expands.
Phemex also offers an Earn Crypto product that allows users to earn up to 11% APY (otherwise known as Annual Percentage Yield, the rate you can earn on an account over a year — including compound interest).
Phemex currently partners with six fiat payment gateways, too — Banxa, Coinify, Koinal, Mercuryo and Moonpay — for users to conveniently buy crypto using either a credit or debit card. Additionally, the platform offers a variety of payment options, from Apple Pay and bank transfers to OTC services) to best suit your preference.
We know what you’re probably thinking: is Phemex safe? The short answer is yes. Phemex implements a Hierarchical Deterministic Cold Wallet System, which assigns separate cold wallet deposit addresses to each user.
An overview of Phemex’s products
Ahead, understand what Phemex has to offer. The following descriptions are attributed to Phemex:
- Phemex Academy: The Phemex online learning platform is one of the most comprehensive platforms for learning about crypto. Phemex Academy is an educational styled site from the Phemex cryptocurrency exchange with more than 600 well-researched articles across various topics like cryptocurrencies, the metaverse, and NFTs, among others.
- Trading Simulator: With a free trading simulator, it’ll become your all-encompassing solution to learn about the cryptocurrency space and put your knowledge of cryptocurrency into hands-on practice.
- Phemex Student Foundation: This research initiative provides scholarships to outstanding students in cryptocurrency, blockchain and Web3.
With Phemex, users can make a single deposit of BTC≥0.003 or ETH≥0.04 to claim a $10 dollar bonus. Users can also follow Phemex’s Twitter account and retweet the pinned post to receive an additional $10 dollar bonus.
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